Ford Invests USD500 Million in EV Truck Maker

The Blue Oval announced on April 24, Wednesday, that it has invested USD500 million in Rivian, a startup electric truck making company. The two companies will reportedly collaborate on building and mass producing an electric pickup truck, a goal that has eluded the startup since its founding in 2009.

Before Ford got involved, Rivian managed to acquire USD450 million from London's Standard Chartered Bank, Japan's Sumitomo Corp., Saudi Arabia's Abdul Latif Jameel, and tech giant Amazon.

The company started in Florida, and was known then as Mainstream Motors.  It went through a couple of name changes and moved its operations to Plymouth, Michigan. Rivian started out with aiming to build an electric sports coupe model, but realized it would be difficult to challenge pioneers like Tesla. Nine years after the company’s inception, it finally unveiled the R1T, a five-door pickup truck, and the R1S, a seven-seater SUV.

©media.rivian.com
©media.rivian.com

Though the partnership between the companies is considered a done deal, it is still waiting for regulatory approval, and neither discussed the amount of control that Ford will have over the startup.

Playing the role of ‘doubting Thomas,’ some experts believe that an electric pickup with limited battery charge might be a hard sell for the heavy-duty range and capacity that buyers look for in a pickup truck, but the two companies remain steadfast that they can corner that particular market.

Read All

Featured Articles

Recommended Articles For You

Read All

Featured Cars

  • Upcoming

Car Articles From Zigwheels

  • News
  • Article Feature
  • Advisory Stories
  • Road Test
  • Omoda, Jaecoo NEV sales breach 600k-unit mark worldwide
    Omoda, Jaecoo NEV sales breach 600k-unit mark worldwide
    Ruben Manahan IV . Today
  • Toyota Mobility Foundation turns over 3 Tamaraw shuttles to PGH
    Toyota Mobility Foundation turns over 3 Tamaraw shuttles to PGH
    Cesar Miguel . Today
  • Here’s what to expect at the Japan Mobility Show 2025
    Here’s what to expect at the Japan Mobility Show 2025
    Cesar Miguel . Today
  • Coco in CDO: Toyota Tamaraw ambassador meets MSME owners
    Coco in CDO: Toyota Tamaraw ambassador meets MSME owners
    Paulo Papa . Today
  • First-ever 'Treffen der Ikonen' in PH gathers 100 Porsches
    First-ever 'Treffen der Ikonen' in PH gathers 100 Porsches
    Cesar Miguel . Today
  • Check out the GWM Ora 03’s key rivals
    Check out the GWM Ora 03’s key rivals
    Cesar Miguel . Sep 12, 2025
  • Here are the Ford Territory Hybrid’s strengths, weaknesses
    Here are the Ford Territory Hybrid’s strengths, weaknesses
    Cesar Miguel . Sep 12, 2025
  • VinFast VF 5: top 3 reasons to buy
    VinFast VF 5: top 3 reasons to buy
    Paulo Papa . Sep 09, 2025
  • Check out the Subaru WRX’s closest alternatives
    Check out the Subaru WRX’s closest alternatives
    Cesar Miguel . Sep 08, 2025
  • Lynk & Co. 01 vs BYD Sealion 5 DM-i vs Changan Nevo Q05: Chinese hybrid SUV smackdown
    Lynk & Co. 01 vs BYD Sealion 5 DM-i vs Changan Nevo Q05: Chinese hybrid SUV smackdown
    Paulo Papa . Sep 05, 2025
  • How well do you understand traffic signs?
    How well do you understand traffic signs?
    Cesar Miguel . Sep 09, 2025
  • How car collectors can take advantage of Liqui Moly products
    How car collectors can take advantage of Liqui Moly products
    Ruben Manahan IV . Sep 08, 2025
  • Do you still need to wash your car after it rains?
    Do you still need to wash your car after it rains?
    Cesar Miguel . Jun 12, 2025
  • What should you visit first at MIAS 2025?
    What should you visit first at MIAS 2025?
    Cesar Miguel . Apr 11, 2025
  • Do you really need 4x4 for overlanding?
    Do you really need 4x4 for overlanding?
    Cesar Miguel . Mar 26, 2025
  • Ford Everest Sport Special Edition: ‘tough’-tier SUV
    Ford Everest Sport Special Edition: ‘tough’-tier SUV
    Paulo Papa . Sep 15, 2025
  • Toyota Corolla Cross GR-S HEV: sporty yet sustainable
    Toyota Corolla Cross GR-S HEV: sporty yet sustainable
    Paulo Papa . Sep 08, 2025
  • ELECTRIA: JMC EV3 - cutesy city slicker
    ELECTRIA: JMC EV3 - cutesy city slicker
    Cesar Miguel . Sep 04, 2025
  • First drive: Here’s why the Li Mega is the ideal pick for those who wants to be chauffeured
    First drive: Here’s why the Li Mega is the ideal pick for those who wants to be chauffeured
    Paulo Papa . Aug 27, 2025
  • GWM Cannon: range day
    GWM Cannon: range day
    Paulo Papa . Jul 29, 2025